Australian Treasury proposes to regulate crypto exchanges, not tokens

THE Australian of the treasure newly released consultation paper will require has crypto Exchanges has apply For financial services Licence Since THE local financial regulator.

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THE Australian federal government East loading Before with plans has regulate THE digital active sector has THE exchange level, And can Soon require cryptocurrency Exchanges has socket A financial services Licence issued by THE local financial regulator.

In THE newly revealed "Regulator digital active platforms » consultation paper, released on October. 16, THE Australian Treasury said that THE new regulatory frame goals has address consumer night while always proof innovation In THE digital active sector.

Regulator digital active platforms proposal. Source: THE Australian Government Cash

THE heart theme of THE new regulatory frame East that he goals has regulate cryptocurrency Exchanges And service suppliers instead of individual cryptocurrencies Or tokens themselves. In addition, THE consultation paper explain that he will regulate crypto Exchanges below pre-existing financial services laws, instead of craftsmanship new cryptography specific rules.

Cryptocurrency lawyer Aaron way said THE industry has has been push For This approach. Source: Twitter

THE proposal has seen A mixed reaction Since crypto Exchanges Operating In Australia.

Australian crypto exchange Swyftx general Advice Adam Percy called THE proposal "thoughtful" And I agreed that "THE primary to focus should be has TO DO Of course cryptocurrency users can to access blockchain technology with appropriate protections And that There is bedroom For innovation."